Info Edge rises 2% on Rs 4 crore pact with Bizcrum Infotech

Info-Edge

Shares of Info Edge India gained 2 percent intraday on September 16 after the company entered into an agreement to invest about Rs 4 crore in Bizcrum Infotech.

The company in its press release said that it has entered into an agreement to invest, through its wholly-owned subsidiary, about Rs 4 crore in Bizcrum Infotech Private Ltd

The company has acquired 1,622 compulsorily convertible preference shares and 10 ordinary shares.

The aggregate shareholding of the company, post this investment, in the said entity would be 32.85 percent on fully converted diluted basis.

At 1127 hrs, Info Edge India was quoting at Rs 1,935.45, up Rs 37.70, or 1.99 percent on the BSE.

News Source:- Moneycontrol

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